Investment decision to Speed up Company’s Development and International Expansion and Push Even more Culinary Innovation
STERLING, Va. and BOSTON, Mass., June 6, 2022 /PRNewswire/ — Delicacies Remedies Inc., the world leader and pioneer in sous vide top quality meals, right now declared a $250 million investment from Bain Capital to accelerate its growth and world wide expansion. The minority expense will more establish Cuisine Solutions’ authority in the sous vide group, supply additional resources to assist accelerated product or service innovation, and develop its business enterprise domestically and internationally as well as the company’s world-wide manufacturing footprint outside of the United States, France, and Thailand.
Delicacies Options will carry on to operate beneath the leadership of the current management group, led by Main Government Officer, Felipe Hasselmann, and Chairman, Stanislas Vilgrain, who remain considerable house owners in the organization, in addition to the Vilgrain loved ones retaining a controlling curiosity.
Headquartered in Sterling, Virginia, Cuisine Methods is the premier sous vide corporation in the entire world and a top culinary innovation partner, with places in North The usa, Europe, the Middle East, and Asia. Regarded by the world’s best chefs and kitchens, the company is the creation and believed leader on the impressive sluggish-cooking system that it pioneered, perfected, and popularized. Delicacies Alternatives gives prepared sous vide food items solutions to meals support, on-board, military, and retail consumers globally together with Amtrak, Costco, Dunkin’, Hilton Lodges & Resorts, Panera, and Starbucks amongst lots of other market leaders.
“Our potential, while bright in advance of this strategic partnership, is now even more exciting as we see considerable runway to push expansion and enlargement via continued innovation across numerous products categories,” said Hasselmann. “We are very pleased to be the leader in the artwork and science of sous vide, which is the response to so quite a few of the problems our consumers face inside and outside the house of the kitchen. This expenditure will enable us to promptly scale our around the world manufacturing infrastructure, small business partnerships, and fortify our offer chain, therefore creating more scale to satisfy the increasing requires of the global associates who count on our products and solutions each and every working day throughout tens of 1000’s of areas.”
“My eyesight when founding Delicacies Methods was to be the best innovator and meals producer in our space, develop finest-in-course partnerships, and have our popularity talk for by itself by our top quality, scale, and innovation,” explained Vilgrain. “To have a globe-class expense firm of Bain Capital’s caliber assistance our eyesight speaks to the results of our unique mission and to the fascinating long term of our business. I am very very pleased of our accomplishments from our humble begin in 1990 to today and am searching ahead to constructing alongside one another with Bain Money a primary, progressive food organization of the long run.”
“Stanislas, Felipe, and the management team have performed an fantastic position constructing Cuisine Alternatives into a very clear leader in the rapidly-growing sous vide sector that is regarded by many of the world’s leading chefs. The firm’s exceptional variety of culinary improvements provide increased good quality and consistency, greater food items security, and reduced expenses, which is a gain-earn for their shoppers in the existing macroeconomic atmosphere,” stated Cristian Jitianu, a Handling Director at Bain Money. “We are psyched to spouse with Delicacies Solutions and help the administration team’s expansion strategies though even more improving the value proposition as the chosen culinary innovation husband or wife to blue-chip cafe, retail, travel, and hospitality brands,” additional Jeffrey Chung, a Director at Bain Money.
Bain Capital has a prolonged record of partnering with businesses in the purchaser, retail, and cafe industries to accelerate growth. The firm’s cafe, food stuff provider, and grocery-relevant investments have provided Edge Answers (NASDAQ: ADV), Bloomin’ Brands (NASDAQ: BLMN), Brakes Team Foods Distribution, Burger King (NYSE: QSR), Dessert Holdings, Dunkin’ Manufacturers Inc., Domino’s Pizza (NYSE: DPZ), Gail’s Bakery, Retail Zoo, Skylark Restaurants, and Valeo Foodstuff.
The transaction is anticipated to near for the duration of the next quarter of 2022 and is subject to customary closing situations.
Moelis & Business LLC acted as distinctive monetary advisor and sole placement agent and McDermott Will & Emery acted as lawful advisor to Cuisine Alternatives in link with the transaction. BofA Securities served as fiscal advisor and Kirkland and Ellis served as lawful advisor to Bain Capital.
About Cuisine Options
Led by an intercontinental workforce of award-winning cooks, Cuisine Answers is the world’s top maker of sous vide items — the ground breaking, specific slow-cooking approach the Enterprise pioneered, perfected, and popularized a long time back. Renowned for its innovation, the Firm has introduced sous vide merchandise across a large spectrum of categories – which include proteins, sauces, grain and plant-centered merchandise, and its massively popular egg bites. Their pasteurized sous vide goods give 18 months shelf life frozen, 6 days when defrosted, and can be oven completed in mere minutes. This allows meals assistance and house cooks to conserve time, simplify the complexity of any source chain worries, and is a ideal solution to significantly lower waste and labor prices. Headquartered in Sterling, Virginia, Delicacies Alternatives services far more than 22,000 dining places and 6,000 retailers, as very well as major airlines and accommodations. For extra data, check out www.cuisinesolutions.com.
About Sous Vide
Sous vide – French for “under-vacuum” – is an innovative cooking technique in which food items is vacuum sealed and heated in h2o till cooked to perfection. In 1971, Dr. Bruno Goussault (who would later develop into Main Scientist at Delicacies Answers) created sous vide as a way of strengthening the texture and taste, although preserving the pure integrity of cooked food items. Dr. Goussault uncovered that the sous vide strategy – whereby foodstuff is slowly but surely cooked at somewhat-lower-than-typical temperature in specially intended, vacuum sealed pouches – resulted in notable flavor improvement and a reduction in foodstuff shrinkage when compared to conventional cooking methods. Cuisine Solutions’ heritage in sous vide – and its constant innovation in the science – has authorized the Organization to continuously supply cafe-top quality merchandise that are reliable and favored by prime chefs and discerning foodies about the environment.
About Bain Capital
Bain Cash, LP is a single of the world’s main personal multi-asset choice investment decision corporations that makes lasting affect for our traders, teams, organizations, and the communities in which we live. Considering that our founding in 1984, we’ve used our perception and working experience to organically broaden into numerous asset courses including non-public fairness, credit score, public equity, venture cash, true estate and other strategic spots of concentration. The agency has places of work on four continents, a lot more than 1,300 staff members and roughly $160 billion in property less than administration. To discover extra, pay a visit to www.baincapital.com.
For Cuisine Solutions
R. Couri Hay / Denise Finnegan
R. Couri Hay Artistic PR
[email protected] | [email protected]
For Bain Cash
Scott Lessne / Charlyn Lusk Stanton
(646) 502-3569 / (646) 502-3549
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Resource Cuisine Methods, Inc.